Four Rhode Island senators want to expand RI sports betting beyond the IGT monopoly.
Sens. Frank Ciccone, John Burk, Todd Patalano and David Tikoian introduced SB 748 this week. It would end the state lottery monopoly on RI sports betting and create licenses for at least five sportsbooks in 2026.
The legislation was referred to the Labor and Gaming Commission. The legislative session runs until June 30.
RI sports betting setup
Online Rhode Island sports betting launched in 2019, when Sportsbook Rhode Island began taking wagers. IGT runs the sportsbooks through a monopoly deal with the state lottery.
SB 748 would stop the lottery from renewing the IGT contract when it expires next year.
The lottery would then open up applications to sportsbooks and issue at least five licenses.
Rhode Island sportsbook performance
Rhode Island bettors have wagered $2.5 billion on sports since legal betting launched in the state.
With the state taxing sportsbook operators at 51%, Rhode Island has generated $109.2 million in taxes off of $214.2 million in sports betting revenue.
Monopolies in US sports betting
There are a few markets in the US with sports betting monopolies.
In Florida, the Seminole Tribe controls the massive market with Hard Rock Bet. However, Hard Rock CEO Jim Allen has left open the possibility of other operators entering the state.
Commercial operators like DraftKings have also found themselves in monopoly situations, including New Hampshire and Oregon. This year, New Hampshire lawmakers considered online casino legislation that would have allowed multiple operators.
